Invesco Ltd. Decreases Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Invesco Ltd. significantly reduced its stake in Tyler Technologies, Inc. by 74.1% during the 1st quarter, selling over 3 million shares and leaving it with approximately 1 million shares valued at $615 million.
• Several large investors have increased or initiated positions in Tyler Technologies, with institutional ownership now at 93.30% of the company's stock.
• The stock has received mixed analyst ratings, with a range of price targets from $585.00 to $750.00 and an average rating of "Moderate Buy."

Invesco Ltd. lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 74.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,057,897 shares of the technology company's stock after selling 3,019,752 shares during the period. Invesco Ltd. owned 2.45% of Tyler Technologies worth $615,051,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TYL. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies during the 1st quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Tyler Technologies by 820.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after buying an additional 41 shares during the period. Cornerstone Planning Group LLC boosted its holdings in Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after buying an additional 42 shares during the period. Zions Bancorporation National Association UT bought a new position in Tyler Technologies in the 1st quarter worth approximately $38,000. Finally, Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insider Buying and Selling

In related news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of Tyler Technologies stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the transaction, the insider owned 247 shares in the company, valued at $141,679.20. This trade represents a 60.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the completion of the transaction, the chief financial officer owned 11,231 shares in the company, valued at approximately $6,384,374.26. The trade was a 22.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,352 shares of company stock worth $14,655,376 over the last 90 days. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Barclays raised their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target of $688.27.

Tyler Technologies Stock Performance

NYSE TYL opened at $593.99 on Friday. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The company has a market capitalization of $25.70 billion, a P/E ratio of 84.86, a P/E/G ratio of 4.56 and a beta of 0.85. The company has a fifty day moving average of $576.89 and a 200-day moving average of $579.36.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 EPS. As a group, analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.

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